This article was first published on iExec - Medium
Lyon, 15 May 2019: iExec has released its V3, which introduces a new Data Wallet feature that makes secure data renting possible. With this major upgrade, iExec’s decentralized cloud marketplace became faster, more secure and flexible. For the very first time, individuals can connect to iExec and contribute their computing power to earn money. iExec has also launched its Enterprise Edition for corporates wishing to do business with blockchain.
Blockchain Makes Data Renting Possible
The main innovation of iExec V3 is the Data Wallet, allowing for new business models through ‘data renting’. Data providers can list their valuable datasets or AI models, and through iExec, these can be used with an application combined with remote computing power. The providers of the datasets, applications, and computing power are all rewarded through the decentralized iExec Marketplace.
Trained neural networks are an example of valuable datasets that can be rented and monetized through the iExec Data Wallet. They are highly valuable as their training requires time, money and huge amounts of data. Such valuable and sensitive data can be monetized and used in a wide range of industries from healthcare to fintech to cyber-security.
In the past, companies could only sell datasets or charge subscription fees, therefore losing ownership over their data. The innovation of data renting on iExec allows for business relationships whereby enterprises can execute code using specific data on a remote machine, with the guarantee that this machine will never be able to inspect, copy or tamper with the data. Data providers are able to choose who can have access to their data, and revoke this access when needed.
The iExec Marketplace Gets Faster and More Secure
iExec V3 introduces a range of new technical features. The distributed computing middleware has been upgraded. Now named ‘iExec Core’, it allows for individuals to ...
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iExec - Medium